A comprehensive study of the current state and development prospects of the heat and power industry in Russia has been conducted. The structure of fuel and energy resources consumption, as well as the role of heat supply in ensuring the sustainable functioning of the country’s economy have been analyzed. Special attention has been paid to the intersectoral nature of thermal energy and its impact on industry, housing and communal services, and the social sphere. The high energy intensity of the industry has been emphasized, and the need to optimize the processes of generating, distributing, and consuming thermal energy has been pointed out. Various types of heat supply systems – centralized and decentralized – have been studied in terms of their efficiency, environmental friendliness, and economic feasibility. The current dynamics of these systems development in the context of regional specifics and climatic conditions has been described. The key issues of the industry have been analyzed, including uneven distribution of generating capacities, high level of physical wear of equipment, significant losses of thermal energy in distribution networks, as well as insufficient transparency and accuracy of consumption accounting. An important place in the study is devoted to the issues of tariff formation, and both technical and economic factors have been considered, including excess losses, excess costs, the investment component of tariffs, and the need to modernize infrastructure. A forecast of the Russian thermal power industry development has been proposed, and the main barriers hindering its modernization have been identified. Possible ways to increase the energy and economic efficiency of the industry in the face of rising fuel prices and stricter environmental requirements have been listed.
У статті досліджено динаміку обсягів бюджетного відшкодування податку на додану вартість (ПДВ) в Україні та їх взаємозв’язок з макроекономічними і податковими показниками у 2018–2025 рр. Мета дослідження полягає в аналізі факторів, що впливають на обсяги відшкодування ПДВ, та побудові економетричних моделей для оцінювання поведінки показника за різних економічних умов. Використано методи економетричного моделювання, кореляційного аналізу, трендового та сезонного аналізу часових рядів. Для побудови та оцінювання моделей застосовано функцію LINEST в Excel, t- та F-критерії, тест Дарбіна–Уотсона. Побудовано трендову модель та багатофакторні регресійні моделі з використанням частки експорту у ВВП та індексу промислового виробництва, які пояснюють від 89,4 % до 94,7 % варіацій відшкодування ПДВ. Виявлено значний вплив сезонних і шокових чинників, пов’язаних із війною, а також вплив частки експорту у ВВП і індексу промислового виробництва на обсяги відшкодування ПДВ.
Ii Ratna Sari, Santi Nur Wahyuni, Maiyaliza Maiyaliza
At the beginning of 2020, the Covid-19 pandemic began to spread across various regions in Indonesia, causing many companies to experience various operational and financial impacts, especially health sector companies listed on the Indonesia Stock Exchange (IDX). Since the outbreak, the demand for health services has skyrocketed. Many people were infected with the virus, leading to a surge in patients at hospitals and healthcare providers, particularly those requiring intensive care due to COVID-19 infection. As a result, healthcare companies experienced changes in revenue and operational costs. The Net Profit Margin (NPM) ratio did not show substantial changes in the financial performance of healthcare companies before, during, and after the COVID-19 epidemic. The TATO ratio did not show substantial changes in the financial performance of healthcare companies before, during, and after the COVID-19 epidemic. Healthcare companies should improve operational efficiency and asset utilization to maximize revenue contributions and enhance operational management, enabling them to manage and allocate company assets more productively.
Review of Economic Theory and Policy (RETP) interviewed Andrea Szalavetz, scientific advisor at the Institute of World Economics, Centre for Economic and Regional Studies, ELTE. Her research focuses on upgrading in global value chains, digital transformation and regional differences in technological development and innovation capabilities. In this interview, we discuss how Central and Eastern Europe (CEE) could transition from a development model dependent on foreign direct investment (FDI) to a more innovation-oriented and resilient trajectory. We also examine the technology and entrepreneurship ecosystem in the region, as well as the impact of developments in the defence industry and industrial policy on future growth.
Economic theory. Demography, Economic history and conditions
The rise of Large Language Models (LLMs) has transformed AI agents from passive computational tools into autonomous economic actors. This shift marks the emergence of the agent-centric economy, in which agents take on active economic roles-exchanging value, making strategic decisions, and coordinating actions with minimal human oversight. To realize this vision, we propose Agent Exchange (AEX), a specialized auction platform designed to support the dynamics of the AI agent marketplace. AEX offers an optimized infrastructure for agent coordination and economic participation. Inspired by Real-Time Bidding (RTB) systems in online advertising, AEX serves as the central auction engine, facilitating interactions among four ecosystem components: the User-Side Platform (USP), which translates human goals into agent-executable tasks; the Agent-Side Platform (ASP), responsible for capability representation, performance tracking, and optimization; Agent Hubs, which coordinate agent teams and participate in AEX-hosted auctions; and the Data Management Platform (DMP), ensuring secure knowledge sharing and fair value attribution. We outline the design principles and system architecture of AEX, laying the groundwork for agent-based economic infrastructure in future AI ecosystems.
As economics scales, a key bottleneck is representing what papers claim in a comparable, aggregable form. We introduce evidence-annotated claim graphs that map each paper into a directed network of standardized economic concepts (nodes) and stated relationships (edges), with each edge labeled by evidentiary basis, including whether it is supported by causal inference designs or by non-causal evidence. Using a structured multi-stage AI workflow, we construct claim graphs for 44,852 economics papers from 1980-2023. The share of causal edges rises from 7.7% in 1990 to 31.7% in 2020. Measures of causal narrative structure and causal novelty are positively associated with top-five publication and long-run citations, whereas non-causal counterparts are weakly related or negative.
The application of Reinforcement Learning (RL) to economic modeling reveals a fundamental conflict between the assumptions of equilibrium theory and the emergent behavior of learning agents. While canonical economic models assume atomistic agents act as `takers' of aggregate market conditions, a naive single-agent RL simulation incentivizes the agent to become a `manipulator' of its environment. This paper first demonstrates this discrepancy within a search-and-matching model with concave production, showing that a standard RL agent learns a non-equilibrium, monopsonistic policy. Additionally, we identify a parametric bias arising from the mismatch between economic discounting and RL's treatment of intertemporal costs. To address both issues, we propose a calibrated Mean-Field Reinforcement Learning framework that embeds a representative agent in a fixed macroeconomic field and adjusts the cost function to reflect economic opportunity costs. Our iterative algorithm converges to a self-consistent fixed point where the agent's policy aligns with the competitive equilibrium. This approach provides a tractable and theoretically sound methodology for modeling learning agents in economic systems within the broader domain of computational social science.
Lacramioara Mansour, Elena Cerasela Spatariu, Gabriela Gheorghiu
The new digital technologies integrated into economic and social life had determined the need
for professionals in the economic field to possess and to develop new skills, capable of giving
organization added value. The economics students´ groundwork for these new competencies is both
a necessity and a consequence of the changes that have taken place in the different market types, as
they increasingly become protagonists of their own learning process. The current endeavor is an
effort to explore the students' attitude towards technology, in which the proactive attitude of
economics students determines their involvement in economic life and their resultant determines
how they relate to information technology as future professionals on the dynamic job market. The
study is based on a number of 424 questionnaires completed between April and May 2024 by the
students from The Faculty of Economic Sciences of the "Ovidius" University of Constantza,
Romania, through which proactive attitudes and the active involvement into economic life and protechnology attitudes were determined, resulting in a significant positive correlation between them.
This paper investigates the extent to which China's economic growth and development influence poverty levels, focusing on the dichotomy between absolute and relative poverty. Leveraging data from sources like the World Bank, Statista, and Macrotrends, and employing economic frameworks such as the Lewis Model, Poverty Headcount Ratio, and Gini Coefficient, the study examines China's transformation from combating absolute poverty to addressing relative poverty. The findings highlight that robust economic growth from 2011 to 2022, driven by urban development and rural infrastructure investments, successfully eradicated absolute poverty and elevated rural incomes. However, this progress also exacerbated income inequality, as evidenced by a rising Gini Coefficient, complicating efforts to alleviate relative poverty. Through multidimensional analyses encompassing regional disparities, migration patterns, educational access, and societal factors, the paper underscores the dual impact of economic development on poverty alleviation. It concludes by advocating for policies that balance economic growth with equitable resource distribution to tackle persistent relative poverty and foster sustainable development.
We establish a Floquet theorem for a first-order system of differential equations $u'=ru$ where $r$ is an $n\times n$-matrix whose entries are periodic distributions of order $0$. Then we investigate, when $n=1$ and $n=2$, the spectral theory for the equation $Ju'+qu=wf$ on $\mathbb R$ when $J$ is a real, constant, invertible, skew-symmetric matrix and $q$ and $w$ are periodic matrices whose entries are real distributions of order $0$ with $q$ symmetric and $w$ non-negative.
Today we witness the rise of a new type of economy i.e. digital economy, whose foundation is formed by digital ecosystems. The article deals with the idea of digital ecosystems, specific features of their founding and developing. The author describes the pre-conditions of their emergence, which include the development of technology, customer’s desire to meet his/her needs in full and with minimum efforts, the necessity to eliminate geographic barriers and the ambition of business to get bigger profit at the expense of providing extra goods and services to the customer. The article studies the borders, structure and key elements of digital ecosystem. Special role is assigned to the organization – leader. The author shows a scheme of interaction of the customer and the platform and describes the mechanism of transforming data into knowledge in the interaction process. The author puts forward three approaches to shaping digital ecosystems: the development of own services, purchasing of outside ones and partnership agreements. The biggest in the world American and Chinese digital ecosystems were analyzed: Google, Apple, Facebook, Amazon, Alibaba and Tencent. The home experience of building digital ecosystems was investigated, such finance organization as Sber, Tinkoff Bank, VTB and companies Yandex, Mail Group and MTS were discussed. It makes it possible to draw a conclusion that Russian market of ecosystems is still on the stage of shaping, but it has positive prospects of integrating into digital economy being built.
Objective: to identify the factors that determined the success of investment projects in the field of forest development on the basis of available information about the enterprises – applicants for such projects.Methods: regression analysis of binary choice models, logistic regression.Results: the key constraints of the development of the Russian forest sector are identified. The review of the most relevant scientific research on the topic of investments into forest complex is carried out. Taking into account the identified problems and the analysis of the global experience in solving them, the most promising mechanism in this context was identified – that is, state support for investment projects from the priority list in the field of forest development. Based on a sample of 200 projects, a logit regression model was evaluated, which determines the impact of project parameters on the probability of their successful implementation. The hypothesis that there is a statistically significant impact on the success of investment projects was confirmed for a number of factors: the average revenue and average cost of fixed assets of the enterprise, the absence of employees in the organization, the connection of the enterprise with foreign capital and the fact that the enterprise has been unprofitable for the past three years.Scientific novelty: for the first time, estimates were made of the contribution of the forest complex enterprises’ characteristics to the probability of successful implementation of priority investment projects in the field of forest development.Practical signifi : the high predictive ability of the model allows using information about the project success determinants to adjust the mechanism for providing support, which will enable to increase the share of successfully implemented projects and therefore increase the effectiveness of this measure of stimulating investment in the development of the Russian forestry industry.
Economics as a science, Law in general. Comparative and uniform law. Jurisprudence
Giuseppe De Nittis, Massimo Moscolari, Serge Richard
et al.
We study the spectral and scattering theory of light transmission in a system consisting of two asymptotically periodic waveguides, also known as one-dimensional photonic crystals, coupled by a junction. Using analyticity techniques and commutator methods in a two-Hilbert spaces setting, we determine the nature of the spectrum and prove the existence and completeness of the wave operators of the system.
Universal algebra uniformly captures various algebraic structures, by expressing them as equational theories or abstract clones. The ubiquity of algebraic structures in mathematics and related fields has given rise to several variants of universal algebra, such as theories of symmetric operads, non-symmetric operads, generalised operads, PROPs, PROs, and monads. These variants of universal algebra are called notions of algebraic theory. In this paper, we develop a unified framework for them. The key observation is that each notion of algebraic theory can be identified with a monoidal category, in such a way that algebraic theories correspond to monoid objects therein. To incorporate semantics, we introduce a categorical structure called metamodel, which formalises a definition of models of algebraic theories. We also define morphisms between notions of algebraic theory, which are a monoidal version of profunctors. Every strong monoidal functor gives rise to an adjoint pair of such morphisms, and provides a uniform method to establish isomorphisms between categories of models in different notions of algebraic theory. A general structure-semantics adjointness result and a double categorical universal property of categories of models are also shown.
The article deals with ways of teaching that contribute to increasing the motivation
of students to study a foreign language in a Technical University. The results of the
conducted questioning of students on revealing the motives that motivate students
of a Technical University to study a foreign language are presented. It is concluded
that the main motivating factor is the communicative approach and the involvement
of students in speech activity in the studied language
History (General) and history of Europe, Economics as a science
The aim of this research is to assess what would happen with the business cycle synchronization in the Economic and Monetary Union (EMU), if all new EU member states introduced the euro. In addition, the paper aims to explore how business cycle correlations have evolved over time. The assumption is that, if business cycles in the EMU members are not correlated and the state of integration remains as it is, the ECB’s one-size-fits-all policy will require members to follow policies which are politically difficult to implement. Hence, we are analyzing whether the EMU should stop accepting new entrants in order to stop deteriorating mutual business cycle correlation. Results based on correlations of shocks between the EMU and individual countries and their sizes show that correlation of supply shocks would remain relatively high if all members introduced the euro, but low correlation of demand shocks, different sizes of shocks and transmission of shocks still remain as significant problems.
Resulting from the emerging importance of population ageing, the
last several years an increased amount of academic interest has
been located in the area of motivation of older employees. In this
context, job satisfaction has been used as one of the measure to
evaluate older workers wellbeing in the organization. The aim of
this paper is to investigate the preference of financial and nonfinancial
incentives among older employees and their impact on job
satisfaction. A total of 351 employees aged 40 years and over
working in the telecommunication industry in the Republic of
Macedonia, have been included in the study. The results indicated
that although both types of incentives are positively related to job
satisfaction, financial incentives tend to be stronger predictors. In
addition, managerial position, tenure and intrinsic motivation have
been positively related to job satisfaction among older employees as
well. The current research seeks to decrease the research gap
concerning the ageing workforce in developing economies and
contribute to the increased understanding of these growing age
group of employees.